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HomeNewsEconomyNon-Manufacturing Report On Business (NMI): Service Sector Cooled in February

Non-Manufacturing Report On Business (NMI): Service Sector Cooled in February

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(PHOTO: REUTERS)

The Non-Manufacturing Report On Business (NMI), the Institute for Supply Management’s gauge of U.S. service sector growth fell to 53.4 from 53.5 in January. Still, the NMI beat the median forecast, which called for a sharper decline to 53.2. Economic activity in the non-manufacturing sector grew in February for the 73rd consecutive month, as readings above 50 even if they fall indicate contraction.

Readings below 50 indicate contraction.

The 14 non-manufacturing industries reporting growth in February—listed in order—are: Accommodation & Food Services; Management of Companies & Support Services; Real Estate, Rental & Leasing; Utilities; Construction; Finance & Insurance; Transportation & Warehousing; Professional, Scientific & Technical Services; Public Administration; Health Care & Social Assistance; Agriculture, Forestry, Fishing & Hunting; Educational Services; Information; and Wholesale Trade. The three industries reporting contraction in February are: Mining; Arts, Entertainment & Recreation; and Retail Trade.

ISM® NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM® NON-MANUFACTURING AND ISM® MANUFACTURING SURVEYS*
FEBRUARY 2016
Non-Manufacturing Manufacturing
Index Series
Index
Feb
Series
Index
Jan
Percent
Point
Change
Direction Rate
of
Change
Trend**
(Months)
Series
Index
Feb
Series
Index
Jan
Percent
Point
Change
NMI®/PMI® 53.4 53.5 -0.1 Growing Slower 73 49.5 48.2 +1.3
Business Activity/Production 57.8 53.9 +3.9 Growing Faster 79 52.8 50.2 +2.6
New Orders 55.5 56.5 -1.0 Growing Slower 79 51.5 51.5 0.0
Employment 49.7 52.1 -2.4 Contracting From
Growing
1 48.5 45.9 +2.6
Supplier Deliveries 50.5 51.5 -1.0 Slowing Slower 2 49.7 50.0 -0.3
Inventories 52.5 51.5 +1.0 Growing Faster 11 45.0 43.5 +1.5
Prices 45.5 46.4 -0.9 Decreasing Faster 2 38.5 33.5 +5.0
Backlog of Orders 52.0 52.0 0.0 Growing Same 2 48.5 43.0 +5.5
New Export Orders 53.5 45.5 +8.0 Growing From
Contracting
1 46.5 47.0 -0.5
Imports 55.5 46.0 +9.5 Growing From
Contracting
1 49.0 51.0 -2.0
Inventory Sentiment 62.0 61.5 +0.5 Too High Faster 225 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 47.0 51.5 -4.5
Overall Economy Growing Slower 79
Non-Manufacturing Sector Growing Slower 73

* Non-Manufacturing ISM® Report On Business® data is seasonally adjusted for Business Activity, New Orders, Prices and Employment Indexes. Manufacturing ISM® Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Supplier Deliveries.

** Number of months moving in current direction.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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